The Sun. — London, England, 1826-02-15 00:00:00

et-meted from the minutes of the Coutt )fattish which tried the eeiortunate Gentleman. Mr. Secretary PEEL would velvet, any ibjeetions to' the ad. ritiasion of the case .. As the charge had been mired,, he,cone• calved that it ought to be entertained by the }1 is: Lord JOHN RUSSELL thought it the prn" i bus/nese of mi t ske House to institute the proposed inquiry . T ley *toed it not merely to the constitution of which they were guardian% but even to the character of Judges, to take care that justice was onpartially and purely adMinistered. As to the observation that the case was only fit for a Court of Law, be. conceived it had no weight whatsoever. In Court, redrests was afforded to the individual, but in that House the object of inquiry was to prated the public against the mischievous effects of en Shim of judicial powers. He recommended to defer the hearing of the case to Thursday. - I Mr. DENhi AN complained that he had no notice that any apposition was desigried against his motion: if it were intend. ea to offer further opposition, he begged that he might be ap vieed of the fact, that his lips might net be sealed by begin. a!ag with his motion instead of ending with it, afteroffering the errpments by which it should be supported. Who, that had bet read the first page of our Constitution, could doubt of the right of the lionseto inquire into the conduct of a Judge, be. ettexe foreooth that ifinlge was amenable to a Court of Law. lie would now ask, did any one intend to oppose him, that, it se, he might substantiate ins motion by argument? Mere ashort pause eesned—and no opposition "having been Intimated, the f , lon. Gentleman moved for a Comotittee of the whole House, on Thursday next, to consider the case of Mr. Kenrick, and Met Mr. Kenrick should receive notice of the satire. it was afterwards agreed that the case should be pottponed to Friday, and' the motion being modified ageordingly, was cat. ried without further opposition. Mr. WYNN thought it would be a good arrangement if the , wishesses for bed) parties could attend together." ate. DENMAN said, that his case would opt probably or e copy the House longer than atingle hoer; and.it wee therefore that he named Thursday. It was finally moved and earrled,ohat allisienge -should be tent to the L o rds, to permit Lord Middleton tl) attend and give evidence on the case.—The charge was then resH. Cif It R. E NCY.-11 F. PO dT (F TII E CO 1M 311 TT EE. On a motion. that the Report of the Committee upon the Bark Charter and Promissory Notes Acts should be brought ap Mr. CA I,CRA FT rose to declare that no change had taken place in hie opinion, as already expressed upon the subject. As they were about to legislate improvidently, he wished they might take the precaution to secure at least a eutliciency of me . tette-circulation to obviate the misfortunes of the poor; bat it was quite impossible to secure such a fullness of currency in gold as would answer for the commercial intercourse of all ehe.ses. He could not consent to measures which would put the poorer classes out of employment. The House had not sufficiently on-taint' into the subject. They ought to have paused longer, and appointed a Committee to ascertain the real causes of distress and the proper remedy to allay it. Ile was • canfident that the Act about to be wooed would only draw con. tempt on the authority of Parliament, from its inefficiency as a ieniedy. lie could hardly 4elieve that he was addressing the ,erne. Perliarnent which in 11122 had passed en Act establishing the currency in its present state for ten years—an Act which was opposed by no more titan six Members of the House. All were agreed that the email notes were not the prime cause of the distress ; and yet they now turned round upon the innocent dome of bankers in despite of the Act of 1022. Manufactures had ceased to employ Workmen, through an atiprehension that it would he impossible to provide a sufficiency of gold and sit. var to dixeharge their engagements. Yet notwithstanding the, clearest information on this head; the House proceeded to le. gislate, before any man coull undertake' to point out a proper 3uhstinite for the existing =reneg e , Ministers might as fairly Nod fault whit the whole system of trade as with the banking 3ystem. There was abundant subject-for reprehension in the nefarious spirit of gambling in which Members of that House did not scruple to engage; who, he hoped, would be called to answer fer their conduct before the close of the Session. The vote of lust night, be was convinced, was against the opinion of the majority by whom it wits =tied. His recommendation .would heve been for enquiry, first into the causes of the distress --homy far Government was chargeable—how fur the Bank— haw far the late bubbles—and, lastly, how far the Country 'Bunking system. A pause had been •prutient, till the disturb. *octet subsided '; hut as matters stood, 'they were acting as ale. eardly as one who'e hotoweeeie Mimed,' end who began to re. build before he had removed die rubbish. He could not agree with the Right Hon. Secietnry (Mr; Peel), that now or never rola the time for legislating. Mr. (TY RAVEN did net see any poteibilityeef suppling the circulation of the country, boot by a eithetionion of Bank of lingland'one-ianindllOtelt, to which letethouglit the resolution citeht not to extend; ' Lie would therefore, move Out the words " Bank of England One enhutl , Notes's should he groat- out of the Resolution. -' - ;. s' • e `- . Mr. ELIA( 1 , , ictiti, that there was no *u ply of the pretionot metals in the country. In 1814 and the following yet* we had most exports, and consequently at great intlei of gold. It was then more then at any other period inentrpower, to return to the old system. It would be maid that we made largo exports Let year ; but the question wee, how hail thee betel paid for, or where they paid for at all ? When 'gold encumbered the Bank werehonie, it became no cheap, that it wee disposed of in Austrian, lexican, I;hilian, and other foreign loans. What now should be our fate if i ((mien nation sbould take advantage of Bins' want of preparation which our impenitence had caused, to attack us in war a He reprobated the nice of takiitg Scotch Banks as a model I%r English one*. The former lie said were constituted on it bad principle. He would recommend any legislative measures, which might be adopted, to extend to Scotland, that Scotch notes might not supersede a weenie currency in the North of I; egland. As to the tweaeure* of free trade, he maintained that they could not subsist iii the present flUctuatione. AU ideas of • the sort were absolutely chimerical until bread could be eaten in Etignuol at as cheap a rate at in other conntries. Let it free, trade take place in commodities, and he would warrant that'the Corn Laws would roped themselvee soon enough. Ile felt dire. posed to vote for the mealtime because It, pro Moto, w 4,4 li ic, peel of those laws which were n disgrace to the Legislature, +specially whilst he talked of the necessity of establishing a Tree trade. There was something extraordinary in our situation as a nation, for though all other couetries had in their turn been toankrupt and would he so again, yet we, in a period 11 'years subsequent to the conclionon of peace, saw the price of our prin. • .cipal Stock fell front 97 to 74 per cent. within a few tumults. — "Under all these circumetaue.es, be"m u st entreat the House to coaperate with him in supporting the motion, as it remote step eowerd* putting our credit, and currency on it more safe and lees vatinbl! foundation. ' Mr. Till tal A S lir 1 LSON felt surprised at the speech of -Mellon. Friend, wilt) lid at ;tat:rent periods of his speech ac. Tutted that House of lievieg samitionel measures, and conduct which were not only directly oppesed to each other, but übso. ietely and obviously inennsistent. fie 1,111)111(1, however, only new confine himself to expressing a hope that Ids M ajesty 's Minister,' would not tote) a deer or to the distress of the coin. toercial public, which was very great.' large failures had been talked of as likely to Otke place, which, If realized, would neces. -.eerily involve many ether! in bankruptcy town alarming extent. Hie great object now in rising was to inquire whether the •Itight lion. Gentlemen 'Wei , propered, in theeevent of these occurrences, to come forwod. with emic measure of relief for 'the general distress, which was now felt amongst almost all 'classes in the citr. Ile would not defend the authois of those speculetions, w iich bad so often been impeached wiltin Om walls, further then to say that they first were led into them by the very low rate of interest :on money, and next they had a right, at all events, to do what they pleased with their own. Ile fruit that this class had strong 'claims to relielon the ground' that 'three were only engaged in apeculations, which few person' in trade thought were extrevagant. If the Ministers of his Ma. jeety should neglect to relieve them, and continue only intent On ti,vir proem object, be should be obliged to conclude that though they wereoon pilots hitherto in fair weather, they were now endeavouring to precipitate the 'House into a vote which • would involve them all in a frightfol storm.' That staple arti cle of our manufacture, cotton, 'held brow at subject of extensive . speculation on the part of the meichattla of London, Liverpool, tileogow, and Bristol, anti there now was a rev-woolen In conee, • quence on all those merchants,' Which might end in the 'ruin of •many. For them ho implored the aseistahee of his Majesty'., `Government, both fin the *eke or the trade of this, ountry, as -well as for the sake of Ministers theenselveit, who must see that •ft was but a small hem for such persons to ask, tin advance •of Exchequer Bills to the amount of half that value; which :alley were satisfied to empotinil as a security in the height of • Governments. The CH A NCE Ll.Olt bribe EXT,IIEQIIE timid, he should tot now enter IMO ft dispute with the ilon. Member as to the extent of the evil, which lee, in common r with hitnernust de. Tricire. Ile could not but thiuk it rather 'singular that the Hon. Member who profelowti nett he thought Ith. Majeety's Minititere even unsafe gunk* es to be only fear. Weather pilots should have ao tong supported them - by his vote. , -So far lie must be sup. paVfl aCCOSary to the meaeures, though possibly not to then errors in policy. lilteeher as a Ministry they were competent • t , ~,,,ether 4 m o on of ;het magnitude, it would not become hint Ille rnher of it, to say. Hie own sentiments on this impor. SA 14 tent. cut,.(et were at least th e . effect of eXperienee, aod t. he must , sent( tittles More convniced o the pro. " Y th " ''' "" 4 ?..c" ib°ll e . ; "ti et t. • H wail aware pretty of' the recommeneat.on or , over= i e the Hoe Member was desirous that Government shroud app ly .now the eititelueneure of ?eta for commercial difficulty Ittihad — been resorted to- hi 17911ehantely; an ism) of Exchequer Bills: ' lie roust *ay tnat the colouring of those difficulties was not seen at. ought to give the prefetence over those of other p ersons -or other perio H d%. if the ouse exercised butt a little forecast, .it w ',told be coaviticen of .the extreme impropriety of hearken' ing to solicitations, the ultimate consequences A' which it was not difficnlt to foresee. They had been accused of want of stn-, Ability and feeling for the very prevalent distresses of those to whom the Hon. Member had so frequently alluded. Iladid. mit blame those persons for having entered into speculations which were nufortnnate in their, results, but it WU their duty as his Majesty's Ministers to look not only at, the state of actual dis tress experienced, but at the probable possible consequences of lending too facile an ear to solicitations of this nature; ft behoved them to bind up their corporal agents to *resist cations of this nature. He did think that a compliance, with such on !triplication- now would be unwise. It was true reference had been made to the case of the public embarrassments of 1793, and might be made to other periods. Rut lie felt the circum stances in 1793 were very different from those 'of ' the present day. The distress then rose nut of mingled considerations ',of our external politics and internal disunion at home.— Such a combination was not likely to recur, nor could they be ipleitded now as a precedent for similar Indulgence. Indeed the Hon. Member for London had himself admitted by what he had said, that many of those speculations were any thing but likely to realize a profit to those who embarked in them. If this application. or boon were grarind, the Administration would be continually applied to in every po4,ible fluctuation of ordinary occurrence, the aretit of which would directly be to encourage men in business to extend their trade indefinitely. These persons would, thus encouraged, haturally prop them selves up with the hope, though they were convinced their trade was all smoke, and their credit so much Wale paper, that they might still go on, acting on this precedent winch pointed out •to them the chance of being relieved by the inter position of the House or the sympathy of Ministers in their distress. Such a result was to he eschewed by all means in the power of Ministers, as a result infinitely more injurious even thaw the present. calamity to the trade or this country and the independence of the character of our mercantile end tradinglin. tercet. It was therefore not the duty of Government to lister to such asuggestion, come from whence it might. If, indeed, 4by any absorption of the paper issued, hy GoVernthent for tem porary purposes, such as Exchequer Bills, which, he thought ..rt not unlikely the flank miglit'be induced now to hike up with rash, any measure of relief could be afrorded them, ha should not be indisposed to concede so far ; though he did not.say that this would be so effectual, although it must to a certain extent reach them. Lint It would be altogether nonsense to talk of eWect. ing great things, or important operations, with small means ; therefore he did not hold out to them that much would/iv could mutt from so partial a measure of relief. if the Bank. should acquiesce, as he doubted not it might, the. arrangement would be made, and Government would have to apply to Parliament to make good hereafter the . advances made by the Bank for taking up those Exchequer Bills. He was aware of the chase tisfied state of many minds in the city, and they were very much indisposed to acquiesce in the arrangements which had been resolved on by his Majesty's flovernment relative to the currency • but he felt he could not with safety to the public , or with sati sfied feelings as to his duty, recommend to the adop. tion of the House any other, however deeply he regretted die loss of their support anti kind wishes,—((.sheers.) Mr. IVILSON begged to be understood in wind he had mid as to his declining confidence in his Majesty's Al inieters, as solely applicable to the measure immediately 'miler the consi deration of the House, and that it had no r Terence to the gene. ral measures of his Maieety's Ministera antecedently. . Mr. ROBERTSON was sorry to see the night lion. Gen tleman was disposed still to keep the real comittiou of the country out of sight. and Ministers had permitted the rage of speculation to assume a frightful and portentous aspect, by permitting the repeal of the Bubble Act, which gave these As sociations a legality of form ; and this too against the remon strances of their colleague in office, the lord Chancellor, whose advice, had it been followed, would have saved this country from all or great part of the distress into which it had been plunged. He considered it a mere act of justice to the mercantile interest that the Right Hon. Gentleman should make an issue of Exchequer Bills in order to attempt to relieve the monied and manufacturing interests t indeed the rejection of the just claims of these persons would occa•ion a re-action en the landed interest to so great an extent, that he did not hesi tate to prophecy that the rent of the land would not be paid to the landlord, anti that before the conclusion of this year the land.owners Would find themselves involved in the general embarrassments and difficulties from wbichlhey now were far a period exempt. Such results he heti no doubt would finally endanger not only property generally, but even the peace of the country. .Sir IL PARNELL expressed his full conviction that until The exclusive privilege of the Bank-of u England, in the City of London was modified and curtailed, theattsdisngcrous and extra. ordinary fluctuations in the currency and. Capital of individuals would constantly be recurring from 'time to time. As to the proposal for introducing a mixed silver and gold standard, he hoped it would not, if adopted, be sufferet i l ,to ipterfgre with the late wise Mint regniations,' for if It' ,ft 'would create. more evil than It could db gond. Alderninn BR VINIES attributed much of our embar: moments to the encrcasing necessity of making remittances to foreign countries, as well as to the withdrawing of so large a sum of money us was necessary to pay up instalments to littssiari and South American "Leans. lie feared, thiletet Government issued Exchequer Bills in the same way. as it had done in 1703,.. for the relief of the merchants, total stagnntion would takd place in all trade, which would not only alarm Ministers, bet Completely cripple our trade, and cut up our resources tie a cotnnierelal country Sir FRANCIS DIA KB perceived there was a general dis dposition in the Members on the opposite aide of the Bootie to cnounce the flovernment ; anti he himself had no objection to their tearing his Majesty's Milliners to pieres:—(l,aughter. Ile could not, however, sit down without at least thanking his Majesty's Ministers for the very liheral measures which they had adopted in reference to trade, and he hoped nothing would deter them from persisting in the good work. Alderman 11 KYGATE felt satisfied In the proposition which had come from Minister x; they had neither spoken the sentiments nor were supported by the general voiceof the gentry landownees. The general opinion of commercial men out of doors was, that they were about to' be sacrificed to a cold blooded policy.-..(A laugh.)—But x few, and those who were termed in ridicule the economy club men, supported these sen 'tiinenti. lu fact the only applause' Ministers met with of late were front their oldest:and most inveterate foes. There welt no doubt but a moat alarming crisis was at hand. Tar it to he expected—was it dreamt that at this moment Exchequer Bills were at so great a distount that they could hardly be disposed of no.)-4 Mr. Wt esost—Ves, as low all 20s. discount. how could it be expected manufacturers could go on or wages he paid? No one would deny there was distress. Then why should Ministers turn a deaf car to general complaint, and risk the efl'ects of insubordination and convulsion ? The propoitid for taking 'by the Bank of outstanding Exchequer Bine, would be too slow to aflhrd an y ma t er ial relief. He believed the tithe wield soon come fir the distress reaching the landed interest, who now appeared very grateful because their execs'. Lion wits put off perhaps for another year.—(l4nlighing and " Hear 1"Y-11e intreated Ministers would yet hearken to that adtdce which they appeared disposed' to despise. Air. M 'cot utt tiered the outfitter in which' the lion. Al. derman had now turned round on hie Majesty's Ministers 'as extremely ungrucious in him ; More particularly es this attack wits coupleted with a furious tirade against ppliticul economists. Ile however felt that Government had pressed their reform in it very ill-timed way ; as for relieving the preiteure by fresh issues of Exchequer Bills, he submitted that would but increase the discount on those bill*, and only tend to embarrasa Minis ters and disappoint the public. What the. Chancellor of the Exchequer lu a d already said amounted to ;no less than this, in leis tnintl- 64 We would relieve the present embarrassments if we could. but we durst not." Mr. Alderman WOOD was of opinion that there was no °c cation for any interference on the part of Id* Majesty's Minis.. tors, and that if they hail not taken up the subject so very promptly, things woel d have conic round of tlierwor t m. It wa s a fresh feature of alarm that some .flouses .connected with Foreign Loans were announced this evening .an having tailed. These must draw down others with them to an extent dint may endanger the failure of Wane Of the most respectable, and to all appearance, most firm and stable trading establishments in th e country. Mr. Aldermen EVCiaTt said a few words in explanation. Mr. ATT WOOD was nearly inaudible in the fiallery, but we understood l i e u to u rge the expediency of affording at this moment of extraordinary pressure, some extraordineryassist. alio to merchants., Ile deplored the present distreseed state of the Motley Market, and predicted that it would become worse unless some unusual measures were resorted tn. PEA ItSE reprehended time bowe Which Wine Hon. Gentleman had employed in speaking of t ae Bank of England. It was not true that due Bank was fettered in consequence of' any transactions in which it bad been engaged with Govern. anent.' Six, weeks ago, when, from the run upon the country bankers the currency was threatened with .destruction, it had extended its issues in en almost unlimited degree. They had felt it to be their duty to do so, and they still felt the same disposition to issu e to t h e utmos t extent. They had afforded and continued to itifind all the accommodation to merchants that it was possible by discounting paper, only taking care that it went proper paper, and that their credit to any individual did not surpass the reesoneble liMit. lie was reedy to acknow ledge that this wits tint sufficient td meet the difficultiee of the tune. Merchants were now in such a state or difficulty its to require the same kind of accommodation as had beet, Afforded them upon farmer occasions. Ile quite agreed with the Chancellor of the Exchequer, that these extraordinary expedients ought to be seldom retorted to, lest they should give encouragement to imprudent individuals. Bet when the difficulties were so generally experienced as at pre , se at he would admit-hiw anxiety for some efforts to afford relief. If an issue of Axciequer Bala should he,determined ' on, he would recommetut. that they should bear the sane interest as the .Ilank was now tliscottnting sst,:hccause in the first place it would induce the parties td 104 i - they were ad vanced to return them as speedily as possibla, and further, it would tempt a great deal of money which was now laying idle, out of its lurking-places. If ,tire Millions of Exchequer Bills, at this rate of interest, were issued, he did not believe that any of them would find their way into the hands of.-the Bank of E ng l a nd. Ey such a measure the circulation would he made more active, and confidence, he thought, in't great measure restored. . Mr. ATTwoop and Mr. PEausr: mutually explained. Mr. WM. SMITH could not go so far •either in one direc tion or the other, as some of the Honourable Gentlemen who had preceded him. lie could not , agree with ono Honourable Gentleman that it was the duty of Government to assist the parties now in tiktress, because they were Merchants . ; he did not see how that circumstance could constitute . any peculiar claim upon the attention of Ociertunent. • He must be con. vinced, that the „class in whose favour such a claim was made, had not contributed by their excessive speculations to produce the embarrassments, and he must be souvinced also, that the embarrassments hxd been produced by causes over which Government might have exercised a cnntroul, be. fore he could admit the existence of such a claim, or urge the interference of Government as an absolute " point of duty. Neither could he agree with another Honourable filen tieman who contended that it was the duty 'of the Bank to throw upon the market all the Government securities in his possession, in order that it might be enabled to R&M increased accommo• dation to merchants. Such , a step, it was obvious, must in• crease the agitation of the money-market—depress still further' the price of the public securities—and thus increase gam, in. stead of restoring confidence. Vet he was not without hope that If the subject Was properly taking into consideration, some relief. might he afforded.' And here he must differ with the Right, Hon. the Chancellor of the , Exchequer. Ilia principle was a good one, but fie pushed it to an extrema to winch he could not follow The danger of encouraging speculation was not he thought much .to be apprehended by 'affording relief In circumstances like the present. A. merchant in possession of a great quantity of goods, tml unable to raise money to pay his bills, when the value of thifse goods was reduced in the market to he half of their original cost,: accepting upon the pledge of them, a loan of one half their present value, and thus incurring the possible loss of three fourths of his adventures was certainly not a spec. tacle that presented any very strong temptation to inordinate speculation.. Surely no man could enter upon a speculation contemplating the' probability of a result like this. Ile could not therefore consider it a very dangerous precedent, if now that the distteis was an urtiVers:ll. Government were to consider seriously whether some means of relief could not be devised.— He did hot venture to enforce this upon Government as a pogi: live duty, but he nevertheless thought it would be the wiser course in. Ministers not to neglect It. oMoi HUSKISSON would not deviate from the manner in which the debate had thus far been carried on. 'lt had. been the general , object to discuss the practical hearings of the sub. ject, rather than the general prinetples connected with it ; and 'to this usetUl course he would willingly confine himself. The Hon, Member for the City, of London had put a question to his H ight Honourable Friend, and had so put it, as to intimate (which was ritit,' indeed,' unusual when Gentlemen put goes dons) what sort of answer he desired. The lion. Member had asked, if Government intended to issue Exchequer Bills for the relief of merchants, and he had been at no pains to con. real, that he wished for an answer in the affirmative. On the other hand, his Honourable Friend, the Member for Calling. ton, contended. that instead of more Exchequer Bills.heing issued.. the Uank,of Englaod ought to sell nil they now hold, as well as every other sort of Government security. The effect of this would' be to contract the circulating -medium still fur they, as well as to knock down the price of Stocks. Thus it appeared that those two Honourable Gentlenien were diame trically in opposition to each other : so that if Government is to be blamed; it iti at leasCevident that no great unani. nutty prevails amongst those who blame it. That the greatest distress existed there' could not, unfortunately, he any doubt. —lf his opinion were Of any value, lie would proceed to state whet he thought its immediate cause. It was not any inability or disinclination on the part of the Bank to afflud every degree of accommodation ; but its accommodation to merchants con sisted in discounting bills of exchange. • The Bank was now perfectly ready to discount with the utmost liberality, but dis• trust had arrived to such a height that bills of exchange could nut be created. Alen would not trust each other so far as to unite their names upon a bill. So that the very means by which money w4s procured from the flank had in a very great degree ceased to exist. There could be no doubt that an increase of circulation was necessary. The questimi was, how could it be supplied ? The Hon. Afember for Callington could see no tilt. Eicitlty hi;the Bank advancing Money upon pods, only that it would be contrary to the principles of political economy. lie would inform the lion. Gentleman that it would be contrary to something intinitely more binding than the principles of politi cal economy, it would be contrary to the charter of the Bank, to the very law on which depended its existence. When during the embarraasmente of 170, is Committee of that House was formed to take the subject into consideration, it was the unani mous opinion at that day, not only of the ComMittee but of all 'the witnesses; that provided an adequitte increase of the circle. lilting medium took place, it was wholly immaterial in what manner it was issued, whether upon Government securities or private securities. The only object to be regarded was an abundant supply of currency. The principle was a correct one, and was equal applicable to the circumstances of tilt , present day. It' the hank, therefore, could feel itself at liberty to go into the market, and by the tinatiog securities, now molnuch depressed to a very considerable extent, this would be n mode of increasing the circulating medium perhaps less objection. able than any other. It was quite a mistake to suppose that the Bank was at all choked up at present with Goveroment sectiri tiei. This was what lie shook.' recommend' it' the flank felt it. self at liberty to do so. Ile could not coincide with the lion. Gentleman who spoke lastin thin king that the precedent of the M- I terference of Government harmless. Men would, lie thought, be more readily induced to enter into imprudent speculations with such a precedent before them. The argument now urged in favour of such interference, that of the intensity of the dis tress, would be resorted to upon all occasions. The distress we were actually sutfering was always the most severe distress.— There was the less pretence for any interference now, as no public occurrence; no armament, or any political cause of alarm had intervened. lie dreaded the consequence of teaching trade, of teaching sanguine speculators to look to Government for relief. 'They would not certainly embark in speculationS in the. contemplation of failure; each man for himself would expect, ort speculators always expect, .to get out in th ne , l et the ruin fall where it might. Ile dreaded the idea of an asylum for unfortunate speculators—such an idea would give encou. moment to raids and imprudent men, for the same reason dust our system of poor laws rendered the lower orders less pro. Trident and less anxious to secure themselves an humble in. dependence. lie would again state his opinion, that a large issue from the Bank, 1 4. porch:wing Government Securities would produce great relict, if they thought themselves at liberty to take such it course.' He thought they might do so with per. c i ti ,o l r ty d w o o t u t l i t e lie found is making an arrange. Treasury end his Right Hon. it ;:i tn e st :d wlei f tt : h r . t t i lN e eo ret .dil l i e sfilL mption of such securities in due and proper time. This method of relief would nut be attended with the serious disadvantages which he felt to belong to that suggest. ed by the Hon. Member for the city of London. The pressure he was told had been more severe to-day !hen at any previous moment. %Vas not a plan of relief which might begin to beacted on to-morrow morning better than one which must be attended with delay, by having to undergo detailed and tedious (Recta. sion in that House. Unities he could be convinced that the mode in Which the circulating medium was to be increased, .was in itself& material consideration, be must continue to think that the principle adopted by his Bight Hon. Friend was per. fectly correct. Mr. BLAME declared that in the course of his whole life he had neverknown such distress to exist. He did not think the mode of 'relief suggested by the Right lion. the President of the Board of Trade wonkl be so efliamotts as a more direct as. sistance. The Bank of England might buy Exchequer Bills, but the relief to flow from those purchases would reach but slowly the persons now actually suffering; for he apprehended that the greeter number of these had not got any -Excite quer Bills to sell. Whatever quantity of goods a man h a d lon hand, he could not get a bill of exchange concocted. For men were, in times like these, deterred by various considera tions from assisting each other. Men were quite as jealous of their credit Int of their capital. Tile issue of Exchequer Bills would afrord relict' in many cases to which the benefit of the Rigtlst non. Gentleman's ugg estion would not extend. For in. stance, country bankers and. others had lent money upon mort; gage. Upon t h ese secur i t i es they, could raise no money, a s they were not im me di ate ly c onvertible ; but if they were ex . r e o hangcdtbr limited time for Exchequer Bills, they could bor. w stoney upon the bills, And thus find immediate relief, an d yet the bills would not be thrown into the market. By some indulgen ce o f t hi s ki n d, he thought the passing of the measure now before the House would be greatly faellitat. ed—confidenee would be restored. If five millions of Ex. chequer Bills were offered, lie did not believe that above two would he applied for, nor that above half a million would ever go into the conclude without saying, market. Upon this subject he,had taken the deepest that had much communication greatest sympathy for the interest; lie had acted front a sense of duty. Ile would not he persevered in refus with the Right Hon. Gentleman opposite upon the subject, he was Billy persuaded that he felt the ing compliance with the witstlilleesmoofutsleletocolmectonielreccitatlbweonrildan, manner twilosiirltriTsaia4:f.rtiAhlleßscecol.misirleflequetnl,iesintygsted;eaonldinithdatittylf. in which the Bank had been called.on to extend its Jetties. If it should listen to that call, and the Exchanges hereafter be. come unfavourable to the country, he hoped that lion. Gentle. men who were at all time' so ready to censure the conduct of the Bank, would, in the circumstances he had supposed, .have the candour to appreciate justly the principles and motives by which its conduct would have been governed. - The Report was then brought up. On the question being put that the Report be now read, Mr. T. WILSON expressed the ()Pinion that throwing out more paper would not relieve those who most wanted. it. Mr. ATTWOOD asked a question, we believe, respecting the Bank Charter. Mr. HUSKIfiSON replied, that it was as be had repre sented it.. Mr., HUDSON GURNEY, after some observations on the injustice of the treatment which the Bank of England had often received is that Houma, moved an amendment, that the word, " the Bank of England," now forming part of the Re solution,. be omitted. Colonel WODEHOI/SE, notwithstanding his incapacity to enter fully into the merits of a measure like that now under the consideration of Cie !louse, could not refrain from saying a few words. To seek safety was the great object. No measure, to meet the exigencies of such a period, could be quite free from objections; but this was not a time for idle or fastidious cavil ling. He thought thecontract between Government and the Bank had contributed to produce the difficulties. If in the present situation oldie country, it was attempted to harass Government by the demand of reduction of taxes, he was determined to support Ministers against any attacks of that kind, although he thought they had taken rather a narrow and contracted view of the nature of the present commercial embarrassments. If some relief was not promptly, afforded, the consequences would, in his opinion, be dreadful. _ _ The Gallery was then cleared for a division, whseh did not, however, take place.. When the Gallery was re-opened the House had adjourned—HALT-PACT TEN., LIST OF THE MINORITY Of 39. who (on the 13th of February) voted against the pass ing any Resolution, at the present time, for withdrawing Bank Notes under 51. Attvrood, M. Bright, 11 en ry Benett, J. Bridges, G. Blair, J. Baring, Sir T. Calcraft, .1. Calvert, N. Farquhar, Sir R. Gurney, 'lnchon Gordon, R. ..1. W. Graham, Sir S. Grossett, J. It. Gaseoyne, Oen. Roberts, A. W. Hume, Joseph Robarts, Colonel Hey gate, W. Robertson, A. Ileathrote J. (1. Robinson, Sir CI. Iloneymxid, W. P. Smith; Samuel !noes, J. Smith, Abel Ingilby, Sir W. Thompson, Ald. Irving, John Wilson, 'l'. Kemp, T. It. Whitbread, W. H Martin, J. Wood, Alderman Moberly, J. Walker, Josh. Moberly, Major TELIEUS. Palmer, C. Y. Baring, A. Plummer, John Wrottesley, Sir J. After the division on Mr. Baring's' Motion on Monday night, when the house went into a Committee on the Chan cellor of the Exchequer's 111olution, Mr. Hudson Gurney moved to omit the words "of the Rank of England" in the Resolution for discontinuing the circulation of 11. notes. MST OF THE MINORITY. Attwood, M. Martin, J. Wodehouse, Ed. Buxton, T. F. Pane:, C. I'. TELLER. Gordon, lion. W. Thompson, Aid. Gurney, Hudson w v. , 4T INDIA DOCKS. STOCK ACCOUNT for the Week ending SAturd,ty,thellth of February, L l;j2 . Delivered. Exporta tion. Home Con .stuninlon. Articles. Ils West India t'rrs lily Brazil - Chests linvanah Duxes East & n„" Mauritius J Casks .( Pus 1 lids f Pus 1 lids ( Pus 111(is Casks f Pipes Try Ills Bags f Ca' ks l Bags f Casks 1 Bags 1 Casks Bags 1 Casks Bags . do • Cotton Aloes 1 Bags Gourd% Arrow Root . Balsam . . ( Casks 1 Boxes Boxes 1 Jars {(!askt4 Serous Bdts Bags Casks I Casks A Bags Cassia Fistula - Cloves . - Cochineal - • Elephants* Teeth Gum - I Bugs Serons No. I Casks Boxut Hemp • - Hides • • Horns - • Indigo • - Ipecitcu‘nba' • Jalup 'lions No. No. Sewn! , r Casks 1 flags Bales { Whale • Oil Castor Coco Nut Paint . Pearl Shell • Galls Casks Casks Casks r Casks herons Pine Apple - Casks Rice and Paddy ( I::: as k m Sago • Boxes Sarsaparilla - Bales Tallow - Casks Tortoise Shell . Turtle . . Casks TitPioc4 - . Casks WOOD. ii n g s i s tf ai r l i t c a a , sniTariintitber { I 9141 Pieces Plks ea & rid Calm. {Pt . % Sc,Pik { F r i: f e t egc s s e s Ebony Tons Lig. Vitae : Tons Box Wootl . Tons riog Wood Tons Fustic : - - Tons Nicaragua Wood Tons Cam Wood Tons Bar Wood 1 Tons 1 Piece* Brazilletto Tons Saunders Wood Pieces Lancewood Spars No. Staves - - ' No. Mahogany • British Plantation Coffee East India Coffee . . St. Eomingo, Brazil, and I la. Ilvannah Coffee . 1 S‘lgar 11olassii Iranily rollands A rrack Cofreus !ocoa hnento • inner Pepper Bak Stock on Hand. 4471 '612 1,1191 5,774 10,702 975 17,100 1,093 197 1,20 947 13.:917 75,697 „561) 6,019 3askx 12, larch flap 2, !lags ['asks Barrels Rap 72, FRENCH PAPERS. (From the Etaile, dated Monday, Feb, Is.) Panes, FEB. 12.—The Government is having the exposé of the motives and the tablets relative to the laws on the finances printed, and they will be distributed on Wednesday. The Chamber, on the other hand, will print the projects of law rela tive to the planters of St. Domingo, and to the Customs ; the preparatory discussion of these projects will commence itf the Bureaux forty-eight hours after the distribution. When titers is to be a Public Sitting, the Deputies will receive notice at their own houses. It is probable that the next. Public Sitting will take place this day week, the 18th February, for a Report of the Committee, and Petitions. The Duke of Wellington, Ambassor Extraordinary from his Britannic Majesty to the Court of Russia, landed at Calais the day before yesterday (9th Feb.), at tw•o o'clock in the after noon. His Grace was accompanied by Lords Douglas, Fitzroy Somerset, and Cathcart, and Mr. flay. The AmbaAstalor and his . suite imnutliately act out, in six earriaps, fix the Netherlands. The body of his Excellency M. de Narischkin, High Cham berlain of the Emperor of Russia, and Chancellor of all the Orders of the Empire, lay in state yesterday. Several private houses belonging to persons or distinction at Zurich were marked with blood on the night of the 24th of January. A reward of 1041 francs is offered to whoeves shell discover the perpetrator. BUCHAREST, JAW. 20.—The English courier who left Con stantinople the 13th brings private letters from that capital which speak of advantages obtained by the Greeks. Tite lots caused by the last fire at Galata is estimated at 25 millions of piastres. Since that event 2,000 vagabonds have been sent to (From Ms Journal de Paris of Su% Our Vienna Correspondent writes to us on the let of lob. —" The Turks, who appeared to have been reinforced by some thousand men in Wallachia and liloldavia, hoe recom menced their old system of oppression towards the inha bitants. It is in vain that the Consuls of tile Christio3 Powers, at Jassy and Bucharest, have remonstrated pith the Commanders of the Ottoman troops, who beho'' as if they were in a conquered country. They even disregard the authority of the liospodars. " News have been received at Jassy, of some movements that have been remarked in the corps of General Subaniii i:— A report was in circulation at the Court of the Ilospodol that these troops were taking up more concentrated positions on the extreme frontier of Bessarabia, and that important orders front Petersburgh were expected at the head qnartere st JO' cheneff." [The Vimiteur of the 12th contains no Itoyai Orilituo‘e, cr any other official document.] CHAMBER Or DEPUTIES. SITTINGS or Tne 11Tit Or reettuanr. The MINISTER of F INANCE t mounted the Tribune, ell" said—The King has commanded me to present you with th ree projects of a Law, concerning the definitive regulation of the Budget of 1824, supplements of credits :wassail for 1812: and the fixation of the Budget of 1827. In bringing hew °. you all these projects of law, and all the documents I n 11 ° 1 _r • port of them, it was our duty, in conformity with the Article 4 of the law, for the regulation of the Accounts of 1110 t to lay before you a view of the expences of the Spanish Wst : t ‘ i i r ye e i) tr a e ck . I l l i o n w li l t ed ed ge w d. itl a i n r d `pg l ac q l ui t d o at t ed hose ,to ex p p r e ot n i c i e t : e th t e e n io t fi t ; :; ' reports and statements which have been already product: : We have added to it, for the administr a ti on o f War , ti ' account of the definitive liquidation of the servi ce. : which there might remain some uncertainty. This li q ui d tion, this day at its couclusign, enables us to state, that the 1 expences then presented as liable to fall on the Depatolglit of , War, will be reduced. The Budget of 1624 stated the eat'e°(7 of that year at 998,119,5824, and the receipts at 992,333,953' The examination of all the Accounts raise the *hole of the el' penees to 992,583,233 f., and the total amount of the reeeiP ti to 994,971,962 f. The excess of the receipts leaves 3,34.16 f. disposible, which the law devotes to the use of 1625.--All the expences of the iiercise have been paid, with the exeeP t of a tax of (1,509,391 f. in which the expences of the PePlirt ; ment form a sum of 5,352,951 f. The law prows ti" ;:, moval of this to the Budget of 1026 . The surplus , o°l3 l lug to 1,158,440 f., represents the portion of exponcee for ': 0 . 4 . nisterial services, :not having been ordered or paid at th e P er L it named by the ordinan ces o f t h e Ki ng , a ll die rest haring v''' e paid at the period pre s crib e d. It would be useless 0 :: ilt o rs fi your attention by a lon g ser i es o f d e t a il s as t i the ° W: which have produced t h ese resu l ts , w hi c h will form th g °l t ' . ject of printed statements. I n t h e course of dies,* stat einel t is as to the Budget of 1027, t h e Mi n i ster a nnouncO, t hat 1° -ce move the inequality in the r e p ea l o f t h e direct contributiaog' in ~,n t . consequence of the conversion of thirty millions 3 Per 0 Rentes, the number of centimes will be reduced to ten t to every direct' contribution. Thus the actual repeal Ti to, of 19,451,759 f. and joined to that of 6,226,307 f. i° ' .-- et i will amount to 25,878,068 f. The Minister then congte tuls r i- he the Assembly on the fortunate state of the public revenue. v`ets President accounted for the completion of his financial Pr ° . i , e .„ for the conversion of the Rentes, to the hazardous enter - a formed throughout Europe. Ile contended the conversiell //:,, not produced the crisis, but enabled France to support it " ed observed that the French Five per Cents. were lea se than any national stock in Europe. To prove that interest the not higher than in any other countries, he observed that ., French Bank required only four per cent., while th at of 11Pto' land and Amsterdam required five per cent. For lbel 'l ot prove the stability of the credit of France, he sta ted that 01, House had given him authority to circulate 125 millions (414 30 roy aux. while the average of his emission had been lit millions. He had required for the interest of the fiaatil l_ h. g 1 0 1, a million less than granted. His Excellency esPe ti ,' 0 + considerable length, on the advantages arising from lti... A w- 0 ( cial projects. He concluded by submitting' the P rn ite three laws to the Assembly. The lit relates to, the " e i. t he fixation of the Budget of 1824; the 2d to the settling 0 10 , 26 , Budget of 1025 ; and the third to the Ways and Wane e t .• i , hi He then stated the plan of the financial law for 10 21 ' vet o expences of the Consolidated Debt and of the Sinki n g t i l e for 1827, are 238,840,121 f. The credits are aPe ned . ta ve st, amount of 678,938,9211. for the general expenc es of the ! 0 The receipts are estimated at 916,888,734 f. The 31-iniate%oo the project of a law In eleven Articles for th e - a p e of the indemnity granted to the ancient proprieto r. ° ver ger —After some discussion on a point of order, N. Ch furt her mounted the tribune, and required that ther e S hould be cool documents laid before the Chamber relative. t o the e pril ti i ( tl. with Hayti, and the state of the Treasury. M. Vil leic tel ip 0 0 that there w er e no other documents than those See ° t Oohs Ahmitene. The projects of these Laws , an d the Pli ee a to P i Law for the Regulation of the Customs, were attle. re 011 W e printed. It is probable, the House will not sit WO to f th° 10th February, when they will meet to hear 3 H e r r Commission of Petitions. ii7a 10,230 6,153 14,629 57 1,597 5,116 4,,690 6.336 11,628 62,216 2,392 192 a , 1 0 .5 207 3 ,634 ',025 2,763 4,83(1 4311 9,105 888 4M 812 43 693 6,616 3,056 674 1112 23 7,816 1,715 7,010 ,IsB2 8‘39 ,283 880 826. 403 !,734 i